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LatinNews Daily - 17 January 2023
In brief: Peru’s fiscal deficit down in 2022
* Peru’s central bank (BCRP) has announced that the country’s fiscal deficit fell to 1.6% of GDP in 2022, marking a reduction of 0.9 percentage points on the 2021 deficit. The BCRP attributed this reduction to a 12.7% increase in government revenue, primarily due to the recovery of economic activity following the coronavirus (Covid-19) pandemic and high prices for minerals and hydrocarbons in 2021 and early 2022. The BCRP also noted that government spending fell to 22% of GDP in 2022 as emergency economic programmes related to the pandemic were wound down.
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